On January 26, 2016, debt held by the public was $13.62 trillion or about 75% of the previous 12 months of GDP. Intragovernmental holdings stood at $5.34 trillion, giving a combined total gross national debt of $18.96 trillion or about 104% of the previous 12 months of GDP.
Launched in 1934 to help boost the housing market, the Federal Housing Administration (FHA) loan is still pretty much the same today. Itâs a government-backed loan that allows people to buy a moderately priced home with a down payment as low as 3.5 percent. The partnership between the FHA and HUD has helped many people since its inception, insuring over 34 million home mortgages and 47,205 multifamily project mortgages.
The FHA approval process depends on what type of lender you work with. The Federal Housing Administration works with two types of mortgage lenders for FHA loans. The FHA approval process varies depending on which type of lender processes your FHA loan application. Some lenders require FHA review and approval on each loan application, while other lenders can provide a stamp of approval without sending the application to the FHA.